The Saudi Industrial Development Fund (SIDF) has renewed its welcome to support and finance the projects of entrepreneurs and businessmen that are consistent with the Fund's programs and financing products, which are focused on projects of supporting services to the industrial sector, such as housing projects for employees and workers, logistics and storage services, training centers, model factories, central cooling projects, hotels of four stars and less, and integrated residential and commercial service complexes.
This came during the activities of the “Industrial Development” workshop, which was organized yesterday by the Saudi Authority for Industrial Cities and Technology Zones (MODON) in Jeddah. <This came during the activities of the “Industrial Development” workshop, which was organized yesterday by the Saudi Authority for Industrial Cities and Technology Zones (MODON) at the headquarters of the First Industrial City in Jeddah, in the presence of interested parties, entrepreneurs and businessmen. Abdullatif Al-Ghaith, Director of the Fund's Credit Department, gave a detailed explanation of industrial financing, starting with an overview of the Fund and the procedures for lending to industrial projects, the most prominent advantages and incentives in this aspect, in addition to the Fund's role in financing developers and operators of industrial cities and technology zones, where the Fund provides financing products.
Abdullatif Al-Ghaith, Director of the Credit Department at the Fund, presented a detailed explanation of industrial financing. It is noteworthy that the Fund has previously raised the percentage of financing in promising regions and cities to 75% of the project cost instead of 50%, accompanied by an extension of the repayment period to 20 years instead of 15 years, in addition to raising the maximum limit for loans for industries established in these regions to 1.2 billion riyals compared to 900 million riyals for loans for industries established in major cities.
It is noteworthy that the Fund has previously raised the percentage of financing in promising regions and cities to 75% of the project cost instead of 50%.
